Uniper Breaks Gazprom Ties With €13 Billion Damages Awarded [Yahoo! Finance Canada]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg Uniper was one of Gazprom's oldest European trading partners with a history dating back to the 1970s. An international arbitration ruling on June 7 allowed the German company to terminate its long-term Russian supply contracts, some of which ran until the middle of the next decade, according to a statement Wednesday. ADVERTISEMENT Uniper was nationalized during Europe's energy crisis, in one of the largest corporate bailouts in German history. After Russia stopped supplying gas through the Nord Stream pipeline and fuel prices soared, the German utility was forced to pay in the hundreds of millions of euros every day for alternative supplies and was only able to pay these costs with state support. Although Gazprom may never fulfill the payout, ending the supply contracts is a key milestone to prepare Uniper for its return to the stock market. “Any amounts would flow to the German federal government,” Michael Lewis, chief executive officer of Uniper s
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News
- Europe Set to Receive Russian Gas for Now Amid Fears of Cutoff [BNN Bloomberg (Canada)]BNN Bloomberg
- Europe's Gas Traders Are Watching These Drivers This Summer [Yahoo! Finance Canada]Yahoo! Finance Canada
- Europe's Gas Traders Are Watching These Five Drivers This Summer [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Europe's Gas Traders Are Watching These Five Drivers This Summer [BNN Bloomberg (Canada)]BNN Bloomberg
- European Gas Rises After Uniper Breaks Ties With Gazprom [Financial Post (Toronto, Ontario, Canada)]Financial Post